Discover more from The Coffee Break
☕️ UMNO Supreme Council unanimously propose Ismail Sabri as prime minister candidate in GE15
Political artist Fahmi Reza arrested by police over chimpanzee drawing. Lawrence Wong - SG's potential new, non-Lee surname PM. Elon Musk offers to acquire 100% of Twitter, valuing it at USD43 bil.
1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
13 million poultry birds have been culled in France since the end of November as the country recorded a rare upsurge in outbreaks of the highly contagious bird flu. 1,230 outbreaks had been recorded on farms since the virus was first detected on Nov 26, 2022.
USD5.5 trillion — the estimated size of assets of family offices, according to Morgan Stanley’s wealth management Chief Operating Officer Jed Finn. Finn believes it’s the next blue ocean as nobody has a significant share. That’s bigger than Japan’s Nominal GDP in 2021 — a mere USD4.9 tril.
3 billion — the number of times Ed Sheeran’s “Shape of You” streamed on Spotify, making it the most-streamed song. Sheeran was accused of plagiarising a short passage of the 2015 song “Oh Why” by Sami Chokri and Ross O’Donoghue. The High Court judge in London dismissed claims of copyright infringement. “Oh I Oh I Oh I, I’m in love with your
3. COVID-19 SUMMARY
A second booster shot is recommended for individuals aged 60 and above with severe comorbidities as well as for children aged 12 and above who are immunocompromised. Health Ministry says the choice will not be compulsory but voluntary.
Can’t travel to Europe because you took the Sinovac Covid-19 vaccine? Health Ministry suggested getting the Pfizer booster or the complete inoculation (two jabs).
4. IN MALAYSIA 🇲🇾
The UMNO supreme council has made a unanimous decision to propose Ismail Sabri as its prime minister candidate for the upcoming GE15 following its meeting yesterday evening, says UMNO secretary-general Ahmad Maslan. It also said the MoU between the government and PH should not be continued and the anti-party hopping bill should be expedited.
A top UMNO leader (identity not disclosed) is being investigated by MACC for alleged money laundering. This followed a report lodged by an UMNO branch calling for an investigation into the case, alleging that the leader had received money from logging projects and land leases from 2008 to 2010.
More than 700,000 signatures have been collected across four online petitions on Change.org on behalf of Sam Ke Ting, who was sentenced to jail over the death of 8 ‘Mat Lajaks’ teenagers. At the point of writing, two petitions have crossed the 500,000 signature mark, which is considered a “top signed petition” on the site, garnering a total of 1.3 mil signatures. You can sign the petition here or here.
A road safety poster on the risks of “basikal lajak” published in 2020 by the police and the road safety department has resurfaced and making the rounds now on the Internet. Parents can be fined up to RM20,000 or jail up to 5 years for neglecting the safety of their child in “basikal lajak” activities. So far, no action has been taken against the parents of Mat Lajaks.
The Public Accounts Committee has commenced proceedings yesterday on the MySejahtera ownership controversy, which saw the attendance of Health Minister Khairy Jamaluddin, Finance Minister Tengku Zafrul and Treasury Secretary-General Asri Hamidin and being questioned for nearly 3 hours. 3 other agencies under the PM’s Department will be called up next Thursday for further investigation.
Less than 15 hours after posting a drawing of a chimpanzee cartoon character dressed up in what looks like royal attire, political artist Fahmi Reza was called in by the police to facilitate an investigation under the Sedition Act and subsequently arrested.
Permatang Pauh MP and top PKR leader Nurul Izzah predicts that it will take at least 10 years and 2 GE defeats before PH stands a chance to take over Putrajaya again. She said she was traumatised by what took place during the 22 months of the PH administration.
Serba Dinamik Bhd is not completely out of the woods after being compounded by the SC to settle its criminal charges. Bursa Malaysia Securities Bhd has filed contempt proceedings against the company and its directors over their failure to reveal the fact-finding update by Ernst & Young Consulting.
Parkson Holdings Bhd, the retail chain operator, said its external auditor has reported a material uncertainty that may cast significant doubt on the group’s ability to operate as a going concern. Its current liabilities exceeded its current assets by RM1.49 bil.
“Going concern” is an accounting term that the company has the resources to continue operating indefinitely. Not being able to operate as a going concern signifies financial difficulties and the likelihood of bankruptcy.
5. AROUND THE WORLD 🌎
Russia's flagship Black Sea missile cruiser, Moskva, sunk after being “seriously damaged” due to an unexplained fire while Ukraine claims it struck the vessel with its Neptune missiles. The 510-crew warship is considered symbolic as it led Russia’s naval assault on Ukraine. It seems like all wars are just battles of egos.
If Finland and Sweden join NATO, Russia will have to strengthen its borders as the length of the alliance’s land borders with the Russian Federation will more than double. Dmitry Medvedev, former president and deputy chairman of Russia’s Security Council, said it will no longer be possible to talk about any nuclear-free status of the Baltic.
Elon Musk wants to splurge USD43 bil to transform Twitter — Musk offered to buy Twitter for USD54.20 a share (notice the 420 meme reference?). He said the social media company needs to go private because it can “neither thrive nor serve” free speech in its current state. Of course, he had to tweet about his plans to take Twitter private.
Prime Minister Boris Johnson unveiled a £120 mil scheme to solve its asylum seekers problem — by giving them a one-way ticket to Rwanda. The scheme will focus on single men who cross the Channel to the UK by boats or lorries. The irony is — the UK government expressed concern at the United Nations over "continued restrictions to civil and political rights and media freedom" in Rwanda.
A non-Lee Singaporean is likely to become Singapore’s next prime minister — Finance Minister Lawrence Wong, 49, has been selected to be the leader of the ruling People's Action Party's (PAP) fourth-generation (4G) team. Wong was a senior civil servant before joining politics in 2011. He has held ministerial positions in multiple portfolios — from defence to education and now, finance.
o has been labelled as far-right on the political spectrum, is poised to make the election an interesting one. Le Pen is anti-nato, Eurosceptic and pro-Russia. Macron is still the favourite to win, but it’s a close election, according to The Economist’s forecast model. French citizens will cast their vote on Apr 24.
6. FOR YOUR EYES 👁👁
The problem with Malaysian CEOs, according to Mr Money TV.
Old footage of a Mat Lajak hitting a car resurfaced. What was the car owner thinking, parking the car on the road and putting the lives of Mat Lajak at risk?